Hi guys we have a short opportunity on this market as we have a potential short setup for trend reversal as for 2618. Double top was visible and valid, there was a broken of the neckline giving as an opportunity for a 2618 trade setup. An aggressive sell limit will do on the 61.8% price even hande (1.2934). Stops would be above the double top (1.30) and targets could be manage as it follows:
Target 1: Previous low that could act as demand zone or support - 1.2855 Target 2: As for the Daily Bearish Butterfly pattern TP 1 is and for potential bullish pattern completion on the HR which is a bullish Cypher or Shark 88.60%
Take note of the 38.20% of the bearish butterfly TP 1 is confluence with the bullish shark 88.60% A chart will be posted below.
Trade with care and good luck!
Previous trade Setup here on the GBP with short and long (bracketing) check on the Link to Related Ideas.